Revenue at Buy.com Inc. rose to $99.9 million for the first quarter ended March 31, up from $74.3 million a year ago, while gross profit rose 53% to $12.3 million from $8 million, the retailer reports.
It also said that the number of new customers acquired during the first quarter rose 47% over the number acquired in the year-ago quarter.
By comparison, in the first quarter of 2005,
Buy.com reported year-over-year increases of 27% in revenue and 39% in number of new customers, the company said.
As of the end of last month, Buy.com reported having more than 8.4 million cumulative customers. The company operates retail site Buy.com and social networking/retailing site YUB.com.
"As 2006 progresses, we intend to continue investing in our national media campaign in an effort to continue to grow revenues and expand our customer base," chairman and CEO Scott Blum said. Buy.com is in the process of preparing for an initial public offering of stock this year.
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